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Before we begin, let me explain a few of the terminologies of the passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be powerful if you manage to build a source of residual income. Residual income is the form of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. About 30 percent of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the type of money you earn by selling a product, or even a service. The main difference between staying and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from the sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each purchase. .
The greatest passive income stream is one which gives you both residual and busy income and so were going to talk about a few ways to create that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that is getting the majority of its visitors and earnings from one platform can be terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an ad platform can destroy your entire business overnight.
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So before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to get started with the simplest passive income strategy, then we'll dive deeper into building a business which pays you big commissions daily.
The passive income plan Im about check this site out to discuss with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a purchase is made, they will earn a cut, usually percent 5 to 50% depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but these days, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per purchase to affiliates. These are specific applications that arent usually open for everyone. We will explore different high ticket affiliate applications as we move down into this report.
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I could write an entire article to address this issue in the online business world. If you follow a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which might provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right approach, your journey wont be as painful as mine was. When I began my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months to get a $25 commission, but that I dont want you click here for more to think itll be quick.
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To answer the long term question: Just how much money you can earn in 6 months, I'll need to go over different business strategies because if you apply the strategies that Im planning to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to attain your income goal.
